Plejd (PLEJD) Q3 2024 earnings summary

Executive summary

• Revenue grew 27.7% year-over-year in Q3 2024, reaching 153,148 tkr, with strong growth in both sales and profitability.

• EBITDA margin improved to 28.8% (17.4%), and EBIT margin to 17.0% (5.1%) compared to Q3 2023.

• Installation growth reported as a key indicator of underlying organic growth, with robust performance across all markets.

• Cost base stabilized, supporting leverage in profitability as revenue increases.

Financial highlights

• Q3 2024 net income was 20,319 tkr, up from 4,380 tkr in Q3 2023.

• EPS for Q3 2024 was 1.82 kr (0.39 kr), and for Jan–Sep 2024, 5.54 kr (2.07 kr).

• Rolling 12-month revenue and EBIT show continued upward trends.

• Cash flow from operations in Q3 was 19,655 tkr, a significant improvement from -17,038 tkr in Q3 2023.

• Cash and cash equivalents at period end were 21,762 tkr (10,669 tkr in Q3 2023).

Outlook and guidance

• Management aims to further increase profitability leverage in coming years by maintaining cost discipline and launching new products.

• Launches of new thermostat and universal dimmer planned for Q4, targeting growth in Norway and parts of Europe.